Medicaid
In what ways can assets be "spent down"; so as to qualify for MassHealth (Medicaid)?
Attorney Tobin is an elder law and estate planning attorney. As an elder law attorney, he often advises clients on various legal techniques to achieve Medicaid (MassHealth) approval. The Medicaid field is often changing, the most significant changes happening recently with the deficit reduction act. However, even after the deficit reduction act there are several techniques available to help save and conserve your family assets. For example, one technique utilizes a present transfer of assets to the client's heirs, which benefits both parties: the heir will have the ability to enjoy the assets sooner, and the assets will no longer be considered owned by the elder, which in turn may allow the elder to qualify for Medicaid. Many of these transfers can take place in trust. Thereby, protecting the family from other legal issues. However, the rules for these transfers are extremely complex and are governed by various “look back” periods depending on the date of transfer. Another technique used in Medicaid qualification centers around Mr. Tobin's assistance in the conversion of nonexempt assets into exempt assets.
Nursing Home Attorney Tobin offers prospective clients a free, no obligation conference, to determine the vulnerability a Long Term Care illness may have on their own personal situation. Click here to schedule a conference.
